Bank of Japan Appoints Top Economist to Head Up CBDC Research Team

The Bank of Japan has appointed its top economist to lead a team tasked with accelerating its research into central bank digital currencies (CBDC). According to a July 31 Reuters report, Kazushige Kamiyama’s appointment may mark a shift away from the bank’s previously cautious nature on digital currencies. Kamiyama had previously led the bank’s efforts to use big data for conducting econometric analysis in real time. According to Reuters, this proved helpful when the Japanese economy was hit by the coronavirus epidemic earlier this year.  Stepping up the pace of…

DeFi Can Continue to Grow as ‘Useless’ Top 30 Coins Wither

Data published by crypto market analytics firm Messari on July 29 indicates that the collective capitalization of the decentralized finance (DeFi) sector is equal to only 1.5% of the entire crypto capitalization. According to Messari, the collective capitalization of every DeFi project put together is roughly $4.12 billion — less than that of the fifth-ranked crypto asset by market cap, Bitcoin Cash (BCH). Watkins also noted that “literal meme coin” Dogecoin (DOGE) boasts a larger capitalization than every DeFi project with the exception of MakerDAO (MKR). Despite the recent DeFi…

Chainlink Brings FX Rates Data From Top Korean Banks to DeFi

Chainlink (LINK) is integrating with CenterPrime to bring a foreign exchange, or FX, rate data feed from the Korean banks to the DeFi space. “A breakthrough for Korean fintech industry” CenterPrime, a Hyperledger based project, has access to the Korean open banking API that streams FX rate data from several local banks. According to CenterPrime’s press release, this is a major milestone for the Korean fintech space. They noted: “This integration with Chainlink marks a major breakthrough for the Korean fintech industry. For the first time in history, applications will…

Why This Top Fund Manager Thinks Bitcoin is Ready to “Explode” Higher

The ongoing rise in the stock market is unprecedented, and in many ways seems familiar to bubbles seen in years past – including Bitcoin and the crypto market’s meteoric rise in late-2017. This is causing many investors to grow fearful about the market’s future and has caused some notable investors – like Paul Tudor Jones – to turn towards Bitcoin and other hard assets in order to guard against future economic turbulence. Although the stock market appears to be strong at the moment, it is being pumped primarily by freshly…

Will Band Protocol’s Over 30% Correction Lead To A Blow Off Top?

A new breakout cryptocurrency all-star following in the footsteps of Chainlink has been on an insane over 380% rally over the last three weeks alone. But what goes up, must come down, and the over 30% correction in Band protocol may result in a blow of top. Here’s why. Decentralized Oracle Hype Sends Leading Crypto Altcoins Soaring The cryptocurrency market is a speculative asset class where valuations are driven by hype. Supply and demand come into play, but with crypto, irrational exuberance or extreme fear far outweigh normal market dynamics.…

Coincidence? Top 5 Swiss Bank’s Profits up 34% After Bitcoin Integration

Top five Swiss bank Julius Baer Group, which manages $427 billion in assets, announced on July 20 that its profit increased by $524 million in the last two quarters. The bank most likely benefited from an increase in trading revenues throughout the U.S. and Europe. The profit of Julius Baer reportedly spiked by 34% in the first half of 2020. It coincides with the bank’s introduction of a custodial service for digital assets — like Bitcoin (BTC) — in January. Overall surge in global banking revenues or Bitcoin integration? The…

Bitcoin Price Predictions by Top Analysts Are Usually Wrong — Here’s Why

Since Bitcoin (BTC) price rallied above $19,000 in 2017, crypto analysts have issued an amazingly wide range of price predictions on the date and value of the next all-time high or low.  Sometimes these predictions are rooted in deep fundamental and technical analysis, whereas other times they are simply nothing more than off-the-cuff estimates issued at whim.  Options markets provide useful insights into traders’ expectations, including mathematical probabilities for an asset’s future prices. Using Black & Scholes model allows one to better assess the likelihood of analysts’ estimates.  The Black…

Top Spanish Banks Finalize Trial of Payments Using Smart Contracts

Multinational banking giant Banco Santander and four Spanish banks have successfully finalized a proof-of-concept for payments using smart contracts. The PoC was coordinated with IberPay, the company that oversees the Spanish Payment System. Trial confirms blockchain’s feasibility for payments In a statement on July 15, IberPay said the PoC had “confirmed the feasibility of applying blockchain technology to the field of payments” and its successful connection to the national payment system. Using smart contracts automates the execution and settlement of payments once certain pre-conditions are met. Alongside IberPay and Banco…